Litecoin Surges 14% in Post-Halving Spike, Next One in 2023

All eyes have been on Bitcoin today as the king of crypto cranked ten percent to tap $11,800 during earlier Asian trading. The altcoins have been slow to react as usual but they are starting to wake up now with Litecoin leading the way in a post-halving pump.
Litecoin Spikes 14 Percent
Usually price pumps happen before halving events but Litecoin has started spiking a few hours ago. From an intraday low of around $92 LTC surged through the psychological $100 barrier to top out at $107 an hour or so ago according to Tradingview. The move has added 14 percent to Litecoin prices over the past 24 hours.
LTC price one hour chart – Tradingview.com
Initially the momentum was driven by Bitcoin’s blast as Chinese buyers started loading up earlier this morning. A weakening local currency has driven them into offshore assets such as BTC as Trump’s trade war escalates. Often seen as silver to Bitcoin’s gold, Litecoin may also be viewed as a solid investment at less than 9 percent of the price of BTC.
Litecoin has now halved with the next one due in 2023, 1458 days away according to the block half counter. Around 75 percent of all Litecoins have already been mined with 63 million in circulation out of a total of 84 million. The halving has also decreased annual inflation to 4.26 percent which has the effect of potentially increasing value while appearing to decrease the supply.
Founder Charlie Lee has noted that blocks are being created much faster than the expected 2.5 minutes which is a good sign of network health.
“Since the halving, 12 blocks have been found in 17 minutes.
Seems like miners have not shut off their hashrate at all. Instead, we are mining at a rate of a block every 1.4 minutes on average, which is much faster than the expected 2.5 minutes.
Litecoin network is healthy!”

Since the halving, 12 blocks have been found in 17 minutes.
Seems like miners have not shut off their hashrate at all. Instead, we are mining at a rate of a block every 1.4 minutes on average, which is much faster than the expected 2.5 minutes.
Litecoin network is healthy! pic.twitter.com/xvgefqIPtP
— Charlie Lee [LTC] (@SatoshiLite) August 5, 2019

LTC price is also pretty healthy, even after its 40 percent pullback. So far this year Litecoin has outperformed Bitcoin with an increase of 240 percent from around $30 on New Year’s Day to current prices just below $105. Today’s pump has enable LTC to flip BCH for fourth place with a market capitalization of $6.4 billion.
Altcoins Gaining Momentum
Litecoin is not the only crypto asset getting a boost this Monday. Ethereum has added around 7 percent on the day to reach $235 and XRP has made a rare 5 percent move to get to $0.33. Bitcoin Cash and EOS have both added over 5 percent and BSV is getting a 6 percent gain.
Further down the list, Monero, Dash, NEO, Ethereum Classic and NEM are all moving well gaining 6-7 percent on the day. Total crypto market cap is now at $310 billion following a $23 billion cash influx during the Asian trading session.
Image from Shutterstock
 
 
The post Litecoin Surges 14% in Post-Halving Spike, Next One in 2023 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Litecoin Halving Will Occur on Monday: How Will It Affect LTC Price?

Coinspeaker
Litecoin Halving Will Occur on Monday: How Will It Affect LTC Price?
Charlie Lee, the founder of Litecoin, turned to his Twitter audience to announce that in a couple of days LTC halving is to be performed.
Litecoin Halving Will Occur on Monday: How Will It Affect LTC Price?

Continue reading at Coinspeaker
Source: CoinSpeaker

Litecoin Halving Grows Near, But Will LTC’s Price Respond Bullishly?

Bitcoin has been incurring massive volatility as of late that has sent the aggregated crypto markets on a wild ride, with cryptocurrencies like Litecoin (LTC) mainly facing downwards pressure over the past several days and weeks.
Investors and analysts alike are now closely watching to see how Litecoin’s price responds to its imminent mining rewards halving event, which has historically led to major price movements right around the time of this event.
Litecoin Trades Flat as Halving Nears
At the time of writing, Litecoin is trading up just under 1% at its current price of $90.60, which is down slightly from its daily highs of just over $91 but is up from its daily lows of $88 which has proved to be a level of support for the cryptocurrency.
Over a one-month period, LTC has incurred largely lackluster price action, and has slowly entered a period of consolidation that has caused it to trade sideways in the $90 region for the past couple of weeks.
Much to the chagrin of Litecoin investors, the highly anticipated halving pump may have already occurred, as the cryptocurrency surged from 2019 lows of $30 to highs of over $140 in late-June – a massive price surge that may have been emblematic of the anticipated “halving pump.”
Will the Halving Actually Translate into an LTC Price Surge?
It is important to note that the halving is only six days away, and many analysts believe that the reduction in mining rewards and circulating supply can provide fundamental benefits that ultimately translate into price gains.
A recent report from Strix Leviathan, an institutional-grade algorithmic investment management platform, recently published a report that claimed that there is no direct correlation between halving events and price pumps.
“We found no evidence that cryptocurrency assets experiencing a halving event outperform the broader market in the months leading up to and following a reduction in miner rewards,” they noted.
Furthermore, Leviathan also notes that, historically, Litecoin historically outperforms the markets in the months leading up to its halving, but then faces downwards pressure that leads its performance to plummet to the bottom 25th percentile of market performers in the months following the event.
“LTC outperformed the market in the months leading up to both halvings but performance fell to the bottom 25% of the market following the first halving,” they explained.
While keeping this in mind, it does seem plausible that investors and analysts may be gravely disappointed with Litecoin’s performance in the coming weeks and months.
Featured image from Shutterstock.
The post Litecoin Halving Grows Near, But Will LTC’s Price Respond Bullishly? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Don’t believe the hype; Litecoin’s price may stay grounded for a while

Litecoin’s halving is just five days away. Litecoin’s mining reward will be effectively cut in half and each miner will receive 12.5 LTC to find a new block, from the current reward of 25 LTC. The final block reward halving will occur in 2140. Halving remains a popular topic of discussion among cryptocurrency enthusiasts. If […]
The post Don’t believe the hype; Litecoin’s price may stay grounded for a while appeared first on AMBCrypto.
Source: AMB Crypto

July’s Industry Dynamics Revealed in New Crypto Report

Coinspeaker
July’s Industry Dynamics Revealed in New Crypto Report
The latest CORindex crypto report is titled “July 2019 Cryptocurrencies Transactions and Activity” and it features key data any analyst or investor in this space will need to know to make decisions about their assets.
July’s Industry Dynamics Revealed in New Crypto Report

Continue reading at Coinspeaker
Source: CoinSpeaker

Sun-Buffett Lunch Postponed Due to Sun’s Health Issues

Coinspeaker
Sun-Buffett Lunch Postponed Due to Sun’s Health Issues
TRON and BitTorrent CEO Justin Sun just postponed his lunch with Warren Buffett due to sudden health complications just three days ahead of the meeting, according to a post on Weibo.
Sun-Buffett Lunch Postponed Due to Sun’s Health Issues

Continue reading at Coinspeaker
Source: CoinSpeaker

Tips to Maximize Returns from Cryptocurrency Investments

Coinspeaker
Tips to Maximize Returns from Cryptocurrency Investments
Check out a number of things you can do to mitigate the risks and increase your profits from cryptocurrency investments.
Tips to Maximize Returns from Cryptocurrency Investments

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance Jersey List Their Own GBP-Backed Stablecoin

Coinspeaker
Binance Jersey List Their Own GBP-Backed Stablecoin
Binance Jersey has listed a proprietary GBP-backed stablecoin that confirmed that the major industry player had its sights on imminently issuing its own fiat-pegged assets, starting with a cryptocurrency 100% backed by the British pound.
Binance Jersey List Their Own GBP-Backed Stablecoin

Continue reading at Coinspeaker
Source: CoinSpeaker

Altcoins get much-needed respite after Bitcoin surges by 12% in an hour

Bitcoin broke out of a rising wedge yesterday at 11:00 UTC, contributing to the price falling from $9,800 to $9,300. The bears had the matter under control until the king coin’s price started pumping again. Subsequently, Bitcoin’s price pumped by a whopping 12% in an hour i.e ~$1,400 pump in an hour. The 12% price […]
The post Altcoins get much-needed respite after Bitcoin surges by 12% in an hour appeared first on AMBCrypto.
Source: AMB Crypto

Warren Buffett is not, and won’t ever be into Bitcoin, claims Litecoin’s Charlie Lee

Out of all the promises made over the last decade, the crypto-ecosystem delivered two of them: a volatile market and persistent leadership. Although entrepreneurs have rooted for their own personal agenda, the cryptoverse has witnessed a new era of mutual inclusion. Highlighting this development, a recent podcast featured Litecoin’s Charlie Lee and Blockstream’s Samson Mow. Touching upon […]
The post Warren Buffett is not, and won’t ever be into Bitcoin, claims Litecoin’s Charlie Lee appeared first on AMBCrypto.
Source: AMB Crypto

Binance Singapore lists Litecoin as the CZ-led exchange works towards strengthening its global dominance

Keeping its users and the general cryptocurrency community informed has been Binance’s strong suit and has contributed to people associating the exchange with transparency. Binance is in the news yet again after Binance Singapore listed Litecoin [LTC], the fourth largest cryptocurrency in the world. LTC, popularly known as the silver to the Bitcoin’s gold, was […]
The post Binance Singapore lists Litecoin as the CZ-led exchange works towards strengthening its global dominance appeared first on AMBCrypto.
Source: AMB Crypto

New York Gives Bitlicense to Crypto Derivatives Provider Seed CX

Coinspeaker
New York Gives Bitlicense to Crypto Derivatives Provider Seed CX
NYDFS Superintendent Linda Lacewell said that Seed Digital Commodities Market LLC (SCXM) and Zero Hash LLC, who operate under Seed CX, had received BitLicenses.
New York Gives Bitlicense to Crypto Derivatives Provider Seed CX

Continue reading at Coinspeaker
Source: CoinSpeaker

CZ Binance: Retail Investors are Steering The Crypto Price Rally

Coinspeaker
CZ Binance: Retail Investors are Steering The Crypto Price Rally
Contrary to popular belief, retail investors are still playing a major role in directing Bitcoin’s price action, thinks Binance CEO ChangPeng Zhao. He states that this growth is partly due to increased margin trading availability.
CZ Binance: Retail Investors are Steering The Crypto Price Rally

Continue reading at Coinspeaker
Source: CoinSpeaker

Last Month in Crypto: June’s Major Statistics

Coinspeaker
Last Month in Crypto: June’s Major Statistics
Learn how the top crypto markets changed in the latest CORindex report, which covers key metrics like average rate, volatility, transaction volume, and other stats any serious cryptocurrency investor will want to familiarize themselves with.
Last Month in Crypto: June’s Major Statistics

Continue reading at Coinspeaker
Source: CoinSpeaker

Litecoin is Now the ‘Official Crypto’ for Miami Dolphins

Coinspeaker
Litecoin is Now the ‘Official Crypto’ for Miami Dolphins
Litecoin Foundation and American football team the Miami Dolphins teamed up to usher in cryptocurrency payments. The partnership will start during NFL season, where the Dolphins will accept Litecoin (LTC) as their “official cryptocurrency.”
Litecoin is Now the ‘Official Crypto’ for Miami Dolphins

Continue reading at Coinspeaker
Source: CoinSpeaker